Alliance HealthCare Services

News Release

Page 1 of 13

August 3, 2017

 

Exhibit 99.1

 

NEWS RELEASE

 

CONTACT

 

Rhonda Longmore-Grund

 

Executive Vice President

Chief Financial Officer

 

949.242.5300

 

ALLIANCE HEALTHCARE SERVICES REPORTS RESULTS

FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2017

IRVINE, CA — August 3, 2017 — Alliance HealthCare Services, Inc. (NASDAQ: AIQ) (the “Company,” “Alliance,” “we” or “our”), a leading national provider of outsourced radiology, oncology and interventional services, announced today the results for the quarter and six months ended June 30, 2017.

Second Quarter and Year-to-Date 2017 Highlights

 

The Company reported revenue totaling $137.3 million for the second quarter, a $11.9 million or 9.5% increase over the second quarter of last year, and $267.2 million year-to-date, a $18.2 million or 7.3% increase over prior year.

 

 

The Company generated $38.2 million of Adjusted EBITDA (as defined below) for the quarter, a $3.8 million or 10.9% increase from the second quarter of last year, and $71.0 million year-to-date, a $6.2 million or 9.5% increase over prior year.

 

 

The Company continued to generate strong cash flow with $29.6 million in quarterly operating cash flow and $49.5 million of year-to-date operating cash flow.

 

 

Adjusted Net Income Per Share (as defined below) was $0.43 for the quarter, representing an increase of $0.06 per share, or 16.2%, from the second quarter of last year. Adjusted Net Income Per Share (as defined below) was $0.60 year-to-date, representing an increase of $0.18 per share, or 42.9%, from the first half of last year.

 

 

Alliance Radiology revenue increased by 1.8% to $89.1 million for the quarter and by 2.2% to $176.9 million year-to-date.

 

 

Alliance Oncology revenue increased 31.4% to $33.9 million for the quarter and by 23.3% to $64.0 million year-to-date.

 

 

Alliance Interventional revenue increased by 21.3% to 13.8 million for the quarter and by 10.5% to $25.5 million year-to-date.

 

 

The Company closed with a total leverage ratio, calculated pursuant to its Credit Agreement, of 3.95 to 1.00 as of June 30, 2017.

 

2017 Financial Results

“As outlined with our guidance for the year and consistent with our 2017 expectations, our team continued to deliver solid growth in both revenue and Adjusted EBITDA sequentially and year-over-year. When compared to the second quarter of 2016, Adjusted EBITDA increased by 10.9%, and Adjusted Net Income Per Share increased by 16.2% to $0.43. We continue to make progress in reducing our long-term debt, which is down $11.3 million compared to December 31, 2016,” stated Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services. “Although we continued to experience same-store volume challenges in our Radiology MRI segment and our Oncology SRS segment, the strengthening that began in the first quarter has continued into the second quarter, and same-store volumes in our Radiology PET/CT segment and our Oncology Linac segment have continued to show positive growth. Within each of our businesses, year-over-year and sequential revenue growth continues as our team focuses on enhancing our value proposition and improving our competitive position. We remain confident that we will deliver results for 2017 that are consistent with guidance provided to investors,” continued Mr. Tomlinson.

 


The following information was filed by Alliance Healthcare Services, Inc (AIQ) on Thursday, August 3, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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